Rural Renewable Energy Development (RRED) Zones offer an incentive to encourage new investments that either:
- Harness wind, geothermal, solar, biomass or other unconventional forms of energy in Oregon to generate electricity, or
- Produce, distribute or store any of a wide variety of biofuels.
The RRED Zone covers all the territory in the county outside the urban growth boundary (UGB) of Portland Metro, which would include all of Estacada and the surrounding area.
The abatement is the standard (3- to 5-year) exemption from local taxes on qualified property available in any enterprise zone, except that in a RRED Zone it is only for renewable energy activities (which also are eligible in an enterprise zone). In addition, the total amount of property (among one or more projects) that can qualify is subject to a locally-set cap with each RRED Zone designation of $250 million or less in initial market value.
Since 2013, the local government sponsor (county) may waive the requirement to create full-time employment with a new project, if the cost of the investment is $5 million or more. This is like the $25 million waiver in an enterprise zone, except that local additional conditions may not be imposed.
For more information, or to apply, please contact the Community Development Department or
Business & Economic Development
Cindy Hagen, Enterprise Zone Manager,
Community Development Department
Zoning & Planning